Stanbic IBTC Bank, a subsidiary of Stanbic IBTC Holdings Plc, has reaffirmed its commitment to empowering Small and Medium Scale Enterprises (SMEs). To this end, the bank has signed a partnership agreement with the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) to provide training for 3000 Small and Medium Enterprises (SMEs) across various states in Nigeria.
The bank in a statement said the collaboration aligns with its commitment to supporting the growth and development of the SME sector in the country through its Enterprise Academy training programme, an initiative that has facilitated the training of over 5000 SMEs since its launch in 2021.
Highlighting the significance of the partnership, Chief Executive, Stanbic IBTC Bank, Mr. Wole Adeniyi, emphasized the pivotal role of SMEs in the economy.
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He said, “SMEs are the backbone of our economy, and we acknowledge the vital role they play in driving economic growth and creating employment opportunities. Through our partnership with SMEDAN, we aim to empower SMEs with the knowledge and tools needed to thrive in today’s competitive business landscape.”
Director General, SMEDAN, Dr. Olawale Tunde Fasanya, also shared his thoughts on the recently signed partnership, he said, “Establishing a trusted financial partner for growth is crucial to any business”.
He further expressed his satisfaction on the partnership with Stanbic IBTC Bank to empower, equip and expedite the growth of SMEs, thereby amplifying their contribution to the economy.
Stanbic IBTC Bank’s Enterprise Academy training program is designed to equip SMEs with the necessary tools to overcome challenges, enhance their operations, and drive sustainable growth.
Criteria for Eligibility
- Beneficiaries should be between the ages of 18 and 29.
- Youth must be passionate about agriculture, especially renewable energy solutions relating to agriculture and its value chain.
- The beneficiary must be unemployed when applying.
- Beneficiaries must possess at least a junior or senior secondary school certificate and be literate in English or the local language.
- Applicants resident in Siun/Ogere and Abeokuta, Ogun state (locations of the training facility) will be given preference.
- Applicants must have access to a functioning mobile phone.
- Participants must be physically and mentally fit to participate in all aspects of the training. Applicants with specific disabilities are also encouraged to apply. However, this must be clearly communicated during the application period.
- Applicants must be ready to commit three months to this program.
- Applicants must be willing to undergo an internship in relevant machine fabrication companies.